GST council has made following recommendations during 33rd GST council meeting held on 24th February, 2019: From 1st April 2019, the GST rate on residential house properties shall be levied at following rates: For Residential house property in affordable segment: 5% and...
CBDT issued Circular No. 04/2019, on 28th January 2019 providing Clarification regarding Liability and Status of Court appointed Official Assignee, where an Order of Insolvency is passed against a Debtor and the property of the debtor gets vested with the Court appointed Official Assignee. Now th...
Companies (Amendment) Ordinance, 2018 was promulgated by the President on November 2, 2018. The Ordinance was approved by the Houses of People on January 4, 2019 but could not be taken up for consideration in the Council of States. Since the Companies (Amendment) Ordinance, 2018 will cease to hav...
Background With the intent of ease of doing business in India and considering the pendency of cases with National Company Law Tribunal (NCLT/ Tribunal), the Central Government on December 18, 2018 had amended the Companies (incorporation) Rules, 2014 vide Companies (Incorporation) Fourth Amen...
   1.Circular No. 8/2018 : Explanatory Notes to the provisions of Finance Act, 2018  2. Circular No. 9/2018 : Extending the due date for furnishing of Report under Section 286(4) of Income Tax Act, 1961 for more Details please refer the below mentioned link:h...
Relaxation of additional fees and extension of last date for filing of CRA-4 (Cost Audit Report in XBRL format) https://tinyurl.com/y8puyklo   Amendment to Companies (Cost Records and Audit) Rules, 2014 https://tinyurl.com/y9s6h97l ...
The Central Government vide Order No. 1/2018-Central Tax dated 11th December, 2018 has extended the due date of filing annual return (Form GSTR-9 )for the period (1st July, 2017 to the 31st March, 2018) to 31st March, 2019 as the technical utility for filing at online portal of the ...
Direct Taxes updates  Notification No. 06/2018 : Clarification by ITD to Banks to not to deduct TDS u/s 194A of Income Tax Act, 1961 in case of senior citizens where the amount of such income does not exceed Rupees Fifty Thousand. (Please refer to third Proviso to Sub section 3 of Se...
The council of the Institute of Chartered Accountant of India (ICAI) has issued the Indian Valuation Standards. These Indian Valuation Standards will be applicable for all valuation engagements on mandatory basis under the Companies Act 2013. In respect of Valuation engagements under other Statut...
CBEC vide Notification No. 1/2018-Central Tax and Notification No. 1/2018-Union Territory Tax dated 1st January, 2018,  has amended the tax rate for taxpayer opted composition scheme. Now, the Manufacturer shall be liable to pay total GST at the rate of 1% instead of 2% and for traders t...
The taxpayers whose aggregate turnover during preceding financial year exceeded Rs. 1.5 Cr or the new registrants who estimate their turnover to exceed Rs. 1.5 Cr during current financial year, have to file return on monthly basis. Filing of GSTR-1 for the tax period of August, 2017 and onwards i...
MCA has extended the last date for filing of Form CRA4, for the financial years starting on or after 1st April, 2016, without additional fees till 31st December, 2017. To read more click here ...
As many as 1.48 million taxpayers filed their returns on Monday. Though 44% of assessees are yet to file summary returns for October, the rate of compliance has gone up, compared to earlier months. To read more click here...
The Goods and Services Tax (GST) Council in its 23rd meeting held on November 10 had announced that meals at restaurants, both air-conditioned and non-air-conditioned will now attract only five per cent GST, which is much lower than 18 percent that had earlier applied to air-conditioned...
The government extended the last date for e-filing of income tax returns for those taxpayers who file audit reports till November 7. A senior official said the Central Board of Direct Taxes (CBDT) took the decision to extend the deadline by a week, considering the "representations made by va...
IDFC Bank and Shriram Capital had announced to combine their businesses in the first week of July this year. But both the financial groups are set to call off merger talks as both sides have failed to arrive at an acceptable valuation after four months of negotiations, regulatory misgivings and d...
To facilitate taxpayers, the late fee on filing of #GSTR-3B for the month of  August & September has been waived off. Late fee paid will be credited back to taxpayer's ledger....
Leave A Message